Suez Canal blockage could cost insurers over $100 million
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An analyst at insurance brokerage McGill and Partners Ltd. believes that the Suez Canal blockage caused by the Ever Given containership is likely to cost insurers and reinsurers more than $100 million, Reinsurance News reported. David Smith, head of hull and marine liabilities at insurance brokerage McGill and Partners Ltd., said it may take weeks to dislodge the 224,000-ton vessel stuck in the waterway since March 23.
